James River Coal will acquire metallurgical and steam coal company, International Resource Partners (IRP) for $475 million. The transaction is expected to be completed in the first half of this year, subject to the clearing of various closing conditions.
The investment was held by Magnetar Capital’s unit Lightfoot Capital Partners, which was also the majority limited partner of IRP, adds Reuters. The deal will replace prior plans to complete an initial public offering of IRP.
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